Monday, November 30, 2015

Munich and Prague

I just recently returned from my trip to Munich, Germany, and Prague in the Czech Republic.
Munich is my home town and I am glad to have reunited with one of my long time friends who is in  Real Estate and Financial Consulting in Munich.

Munich is such a beautiful city and it is also perfectly located near Austria and Italy, with 5 lakes surrounding the city and a one hour drive to the Alps! It has one of the best University's in Germany, Ludwig Maximilian Universit├Ąt, and it is the proven High Tech Center of Germany.
Lots to see and lots of great investments but the properties are scarce. There is not much on the market and the exceptional objects go fast.
Just like in New York City, the properties in Munich are a great investment. The German economy is strong and everyone tries to invest in it. You would never have a problem to rent it out.

My next trip by bus -  since it's the most convenient way to travel from Munich - took me to Prague. Prague is also a city I know very well since I lived there for four years and I also worked in Real Estate for two years there.

In contrast to Munich, Prague is much more affordable. Many expats live here and now many more expat retirees. The medical system is excellent, the public transportation fantastic, the cost of living very low and everything can be managed in English. In fact, many American are still looking to buy in Italy when the CZ Republic with their own currency (the CZ Kron) is so much cheaper. Prague is also in the center of Europe. They used to call Prague the Paris of the East - today there is not much difference between the West and the East anymore. Prague is also a city of great history and the buildings go back to the 15th century. Prague's buildings survived WWII with only minimal destruction.
I used to work with Green Property and I still do business with Tomas Karban, the Broker, who is on site while I am here in NY.

This time Tomas took me to new listings. Beautiful villas - some outside of Prague - with big yards and 5-10 bedrooms Definitely worth looking at plus lots of fantastic rentals and sales in the city with the most wonderful roof tops. You might think that these big properties would never be affordable. But in the contrary, most of the properties are a third of what you would estimate.

Don't hesitate to contact me - I can tell you lots about Prague and I just got great listings in.

Prague is like a treasury box…you certainly will never forget it and you probably will never get bored in a city so rich in cultural events and history.